ValuEngine cut shares of ScanSource (NASDAQ:SCSC) from a buy rating to a hold rating in a research report sent to investors on Sunday.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of ScanSource from a hold rating to a sell rating in a research report on Thursday, November 9th. BidaskClub raised shares of ScanSource from a strong sell rating to a sell rating in a research report on Wednesday, December 20th. TheStreet lowered shares of ScanSource from a b rating to a c+ rating in a research report on Wednesday, November 8th. Finally, Northcoast Research lowered shares of ScanSource from a buy rating to a neutral rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. ScanSource presently has a consensus rating of Hold and an average target price of $45.75.

ScanSource (NASDAQ:SCSC) opened at $35.70 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. The stock has a market cap of $912.58, a PE ratio of 15.52, a price-to-earnings-growth ratio of 4.00 and a beta of 1.04. ScanSource has a 52-week low of $33.55 and a 52-week high of $45.35.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The business had revenue of $924.56 million for the quarter, compared to analyst estimates of $966.20 million. ScanSource had a return on equity of 8.78% and a net margin of 1.65%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. equities analysts expect that ScanSource will post 2.98 EPS for the current year.

In other news, CEO Michael L. Baur sold 17,621 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $44.32, for a total value of $780,962.72. Following the completion of the transaction, the chief executive officer now owns 35,209 shares of the company’s stock, valued at $1,560,462.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael L. Baur sold 44,565 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $44.16, for a total transaction of $1,967,990.40. The disclosure for this sale can be found here. In the last three months, insiders sold 67,621 shares of company stock valued at $2,987,006. Company insiders own 2.35% of the company’s stock.

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in ScanSource by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 446 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in ScanSource in the third quarter valued at approximately $202,000. SG Americas Securities LLC grew its holdings in ScanSource by 12.0% in the second quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 509 shares during the period. Palouse Capital Management Inc. purchased a new stake in ScanSource in the third quarter valued at approximately $226,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in ScanSource in the second quarter valued at approximately $221,000. 94.35% of the stock is owned by institutional investors and hedge funds.

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About ScanSource

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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